VictoryShares Intl High Dividend Volatility Wtd Index ETF
ALTAR
Score™		 10.3% info Recommen-
dation		 SPECULATIVE
2020E    2021E
P/E
ratio		 13.9x P/Sales
ratio		 0.9x
P/BV
ratio		 1.0x Div.
yield		 5.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The VictoryShares International High Div Volatility Wtd ETF tracks an index of about 100 developed-market stocks outside the US, screened for positive earnings and high dividend yield, and weighted inversely by volatility.

FUND BASICS
Category International Equities
Fund Sponsor Victory Capital Management
Website www.compassempfunds.com
Inception date Aug 20, 2015
Assets (mns) $62
Currency USD
Expense ratio 45 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Volatility
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $29,305
Large cap (>$10bn) 76.9%
Mid cap ($2-10bn) 23.1%
Small cap (<$2bn) 0.0%
Developed mkts 95.4%
Emerging mkts 4.6%

TOP TEN HOLDINGS
SOFTBANK CORP. 2.0 %
DEUTSCHE TELEKOM AG 1.6 %
BCE INC. 1.6 %
DBS GROUP HOLDINGS LTD 1.6 %
KT&G CORP 1.6 %
TELUS CORPORATION 1.5 %
EDP-ENERGIAS DE PORTUGAL SA 1.5 %
JAPAN TOBACCO INC 1.5 %
SHAW COMMUNICATIONS INC-B 1.4 %
ROYAL AHOLD DELHAIZE N.V. 1.4 %
Total 15.8 %

TOP COUNTRY EXPOSURE
BRITAIN 16.7 %
JAPAN 12.8 %
AUSTRALIA 11.1 %
FRANCE 7.5 %
CANADA 6.9 %
NETHERLANDS 5.9 %
SWEDEN 5.3 %
GERMANY 4.7 %
HONG KONG 4.0 %
FINLAND 3.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.5% -19.6% -- -- -1.8%

Market Correlations
versus... Beta R-squared
S&P500 0.90 72%
MSCI EAFE 1.09 92%
MSCI Emg. Mkts. 0.82 81%

Technical Indicators
Recent close $25.22
30d moving avg. $25.73
Annualized volatility 18.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.2%
Bid/Ask (% of price) 0.49%
ADV underlying (mns) $11,674

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the VictoryShares Intl High Dividend Volatility Wtd Index ETF ETF based on the alternatives' overlap in portfolio holdings with CID. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CID Expense: 45 bp ALTAR Score™: 10.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CID
Ticker Fund
Name		 Overlap1
vs CID
(%)		 Expense
ratio
(bp)		 Savings
vs CID
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs CID
(%)
LVHI Legg Mason International Low Volatility High Dividend ETF 33.3 40 5 9.3 -0.9
DOO WisdomTree International Dividend ex-Financials Fund 32.1 58 -13 8.9 -1.4
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 29.3 30 15 7.5 -2.7
IDOG ALPS International Sector Dividend Dogs ETF 29.2 50 -5 11.2 +0.9
DTH WisdomTree DEFA Equity Income Fund 27.9 58 -13 9.8 -0.4
FID First Trust S&P International Dividend Aristocrats ETF 24.7 60 -15 10.0 -0.3
EFV iShares MSCI EAFE Value ETF 24.3 39 6 9.7 -0.6
WDIV SPDR Global Dividend ETF 23.4 40 5 10.0 -0.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 23.2 20 25 9.6 -0.7
IDV iShares International Select Dividend ETF 22.0 49 -4 10.3 +0.0
IDY Pacific Global International Equity Income ETF 22.0 39 6 8.1 -2.2
GCOW Pacer Global High Dividend ETF 21.4 60 -15 10.6 +0.3
VYMI Vanguard International High Dividend Yield ETF 21.4 32 13 10.3 -0.0
EFAS Global X MSCI SuperDividend EAFE ETF 21.1 56 -11 10.0 -0.3
DOL WisdomTree International LargeCap Dividend Fund 20.5 48 -3 8.6 -1.7
FIVA Fidelity International Value Factor ETF 20.4 39 6 10.2 -0.1
IVLU iShares Edge MSCI Intl Value Factor ETF 20.2 30 15 11.6 +1.3
FIDI Fidelity International High Dividend ETF 19.1 39 6 11.3 +1.0
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 19.0 20 25 11.1 +0.8
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 18.7 45 0 9.0 -1.2
CIL VictoryShares International Volatility Weighted Index ETF 18.2 45 0 6.8 -3.5
OEUR O'shares FTSE Europe Quality Dividend ETF 18.2 48 -3 6.6 -3.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 18.1 35 10 8.6 -1.7
FNDF Schwab Fundamental International Large Co. Index ETF 17.9 25 20 9.0 -1.3
DWM WisdomTree International Equity Fund 17.7 48 -3 8.4 -1.9
DWX SPDR S&P International Dividend ETF 17.3 45 0 8.1 -2.2
ISDX Invesco Strategic Developed ex-US ETF 17.0 23 22 7.7 -2.6
DMDV AAM S&P Developed Markets High Dividend Value ETF 16.8 39 6 11.2 +1.0
TPIF Timothy Plan International ETF 16.6 62 -17 6.4 -3.9
ICOW Pacer Developed Markets International Cash Cows 100 ETF 16.5 65 -20 11.2 +0.9
FYLD Cambria Foreign Shareholder Yield ETF 16.5 59 -14 9.5 -0.8
IQIN IQ 500 International ETF 15.9 25 20 9.1 -1.2
IQDF FlexShares International Quality Dividend Index Fund 15.9 47 -2 12.4 +2.1
FGD First Trust Dow Jones Global Select Dividend Index Fund 15.2 59 -14 11.6 +1.3
MOTI VanEck Vectors Morningstar International Moat ETF 15.1 57 -12 8.6 -1.7
IEV iShares Europe ETF 14.9 59 -14 6.8 -3.5
PDEV Principal International Multi-Factor Core Index ETF 14.8 25 20 8.0 -2.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 14.8 29 16 8.8 -1.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 14.5 45 0 6.7 -3.6
BBEU JPMorgan BetaBuilders Europe ETF 14.4 9 36 7.4 -2.9
JPIN JPMorgan Diversified Return International Equity ETF 14.4 37 8 8.1 -2.2
JPEU JPMorgan Diversified Return Europe Equity ETF 14.4 37 8 7.0 -3.3
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 14.3 30 15 6.9 -3.4
FLEH Franklin FTSE Europe Hedged ETF 14.2 9 36 7.1 -3.1
FLEE Franklin FTSE Europe ETF 14.1 9 36 7.0 -3.3
ESGN Columbia Sustainable International Equity Income ETF 14.1 45 0 10.9 +0.7
JHMD John Hancock Multifactor Developed International ETF 13.9 39 6 7.5 -2.7
QGBR SPDR MSCI UK StrategicFactors ETF 13.6 14 31 7.8 -2.5
IQDE FlexShares International Quality Dividend Defensive Index Fd 13.6 47 -2 12.3 +2.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 13.6 25 20 6.5 -3.7
EWU iShares MSCI United Kingdom ETF 13.4 50 -5 7.2 -3.1
EPP iShares MSCI Pacific ex-Japan ETF 13.4 48 -3 6.6 -3.6
EFA iShares MSCI EAFE ETF 13.3 32 13 7.1 -3.2
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 13.3 19 26 7.0 -3.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 13.2 47 -2 12.7 +2.5
BKIE BNY Mellon International Equity ETF 13.2 4 41 7.5 -2.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 13.1 35 10 7.0 -3.3
GSID Goldman Sachs MarketBeta International Equity ETF 13.1 20 25 7.4 -2.9
FLGB Franklin FTSE United Kingdom ETF 13.1 9 36 7.7 -2.5
IEUR iShares Core MSCI Europe ETF 13.0 9 36 7.3 -3.0
QEFA SPDR MSCI EAFE Quality Mix ETF 12.9 30 15 6.9 -3.3
VGK Vanguard FTSE Europe ETF 12.8 8 37 7.5 -2.8
HFXI IQ 50 Percent Hedged FTSE International ETF 12.8 20 25 7.6 -2.7
RFDI First Trust Riverfront Dynamic Developed International ETF 12.8 83 -38 5.7 -4.6
DWMF WisdomTree International Multifactor Fund 12.7 38 7 6.8 -3.4
EUFN iShares MSCI Europe Financials ETF 12.6 48 -3 11.8 +1.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 12.6 35 10 6.9 -3.3
IQSI IQ Candriam ESG International Equity ETF 12.5 15 30 7.3 -2.9
DEW WisdomTree Global High Dividend Fund 12.4 58 -13 9.6 -0.7
EUMV iShares Edge MSCI Min Vol Europe ETF 12.2 25 20 5.0 -5.2
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 12.2 80 -35 5.9 -4.3
FEU SPDR Portfolio Europe ETF 12.1 9 36 7.4 -2.9
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 12.0 7 38 7.6 -2.6
RNDM Developed International Equity Select ETF 11.8 65 -20 6.5 -3.8
SCHF Schwab International Equity ETF 11.8 6 39 7.4 -2.8
RFEU First Trust Riverfront Dynamic Europe ETF 11.7 83 -38 5.4 -4.9
FEUZ First Trust Eurozone AlphaDEX ETF 11.7 80 -35 7.8 -2.5
INTF iShares Edge MSCI Multifactor Intl ETF 11.6 30 15 8.0 -2.3
ESGD iShares MSCI EAFE ESG Optimized ETF 11.5 20 25 7.0 -3.3
IEFA iShares Core MSCI EAFE ETF 11.4 7 38 7.4 -2.9
EWJV iShares MSCI Japan Value ETF 11.0 15 30 10.6 +0.3
IDEV iShares Core MSCI International Developed Markets ETF 11.0 5 40 7.3 -2.9
DVYA iShares Asia/Pacific Dividend ETF 11.0 49 -4 13.4 +3.1
EURZ Xtrackers Eurozone Equity ETF 11.0 9 36 7.1 -3.2
DIM WisdomTree International MidCap Dividend Fund 10.9 58 -13 7.8 -2.4
FEP First Trust Europe AlphaDEX Fund 10.9 80 -35 7.7 -2.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 10.9 25 20 6.7 -3.6
EFAV iShares Edge MSCI Min Vol EAFE ETF 10.9 20 25 5.5 -4.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 10.9 20 25 7.1 -3.1
JPGE JPMorgan Diversified Return Global Equity ETF 10.9 29 16 7.5 -2.8
EZU iShares MSCI Eurozone ETF 10.8 49 -4 6.6 -3.6
LVIN Hartford Multifactor Low Volatility International Equity ETF 10.7 29 16 12.3 +2.1
IDLV Invesco S&P International Developed Low Volatility ETF 10.7 25 20 6.8 -3.5
RBIN Nationwide Risk-Based International Equity ETF 10.7 42 3 6.5 -3.8
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 10.7 39 6 6.7 -3.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 10.6 29 16 7.8 -2.5
SPDW SPDR Portfolio Developed World ex-US ETF 10.6 4 41 7.3 -3.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 10.6 14 31 7.0 -3.3

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 VictoryShares Intl High Dividend Volatility Wtd Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.5 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.59
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.